1. G8 - Elitist
... major economical crisis in western countries in the 1970s, including the collapse of the Bretton Woods system in 1971 in 1973 which regulated nations" currencies by fixing them to the US Dollar; The first oil crisis, when the Organization of the Petroleum Exporting Countries (OPEC) increased prices of crude oil ... western economies were suffering from recession and an increase in unemployment rate. The Group of 6 The first Summit, held in Rambouillet, France was initiated by Giscard d'Estaing, then the President of France. The 1975 summit saw the latest inclusion of Italy into the group...
- Word Count: 2597
- Approx Pages: 10